For the first time in 16 years, the Yankees are not the highest-paying team in Major League Baseball.

The Dodgers have overtaken the throne with their projected Opening Day payroll of $235 million, according to Ronald Blum of The Associated Press. That figure is $31 million more than what the Yankees will spend on player salaries, a bit of a surprise considering Brian Cashman and company handed out close to half a billion dollars in new contracts during the offseason. The last time New York wasn't at the top of the league in player payroll was 1998, when the Orioles led baseball at $70.4 million, roughly $7 million more than the second-place Yankees.

Even if suspended third baseman Alex Rodriguez earned his full salary this season, the Yankees still would have fallen short of the Dodgers by about $10 million. That's what happens when a team has seven different players set to earn at least $15 million in a single season.

As was the case in 2013, the Phillies, Red Sox and Tigers round out the top five.